Further to the publication of the combined circular and prospectus on 1 June 2022 (the "Combined Circular and Prospectus") relating to the proposed merger of the Company with Secure Income REIT plc ("SIR") (the "Merger"), the Board is pleased to announce that the ordinary resolution put forward at its General Meeting held earlier today was passed.
The text of the resolution can be found in the Notice of Meeting contained in the Combined Circular and Prospectus, which can be found on the Company's website ( http://www.LXiREIT.com/proposed-offer-f ... isclaimer/
Commenting on the results, Cyrus Ardalan, Chairman of LXi said:
"We are delighted to receive such a high level of support for our Merger proposal from shareholders.
The combination of these two strongly performing and complementary businesses provides us with a tremendous opportunity to deliver and create enhanced value, resilience and significant attractive growth opportunities for all our shareholders. We greatly appreciate the support of shareholders in giving us such an overwhelming vote of confidence in our collective vision for the future."
At the time of the above meeting, the Company's issued share capital consisted of 911,569,741 Ordinary Shares. The Company held no shares in treasury. Therefore, the total number of Ordinary Shares with voting rights was 911,569,741. Each Ordinary Share held entitles the holder to one vote and there are no restrictions on those voting rights. A "Vote Withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against" a resolution.
The Merger is also subject to approval by the SIR Shareholders at the SIR Court Meeting and the SIR General Meeting, the results of which are expected to be announced by SIR shortly, and the satisfaction of certain other conditions as described in the Scheme Document.